$SPDR S&P 500 ETF (SPY.US)$ So the Fed cuts 50BP because "strong economy," and now we're facing a port strike that could lead to food and goods shortages plus inflation.
Dare I ask, "What next?"
Dare I ask, "What next?"
$NVIDIA (NVDA.US)$ Looks like a little countertrend falling wedge forming right down into support. It could see a push back up of ~6 points from wherever it breaks the resistance line. My guess is NVDA touches ~116.90 and then bounces.
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Best of luck, Cool Cats, and God bless!
Best of luck, Cool Cats, and God bless!
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$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ If anyone is curious the technical reason why the market is selling off. Here it is. NVDA touched the upper resistance line of the symmetrical triangle it is currently in.
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$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ In case you missed it. Weekly update on SPY/QQQ, the Mag 7, TLT, and more!
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$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ Would you like to know where the markets are headed after the Fed's first rate cut in years? Stick around, because we are covering updates on SPY, QQQ, the Mag 7, TLT, and more!
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$iShares 20+ Year Treasury Bond ETF (TLT.US)$ This might be about to do a "thing." Short-term reversals or relief rallies happen all the time, and this one would be targeting ~100.50, and possibly even as high as the pre-market gap fill at 100.81. The larger time frame rising wedge, however, is targeting ~97.0, which has confluence as a retest of the support line of the MUCH longer time frame descending channel. It is possible if it finds demand there it may generate a new, ascending channel.
I...
I...
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$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ Just a thought. I always like to point out that symmetrical triangles often have a false breakout, followed by the real move. If QQQ breaks resistance then its upside target is ~550. But, and this should be considered, what if this symmetrical triangle is having a false breakout, JUST hit the previous, main support line of the massive rising wedge pattern now acting as resistance, and the rising wedge finally plays out fully when the bulls ca...
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$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ Yep, I'm convinced they're using put premium to push the markets higher. For any trader following these patterns a break back below support would have signaled we had a false breakout and were headed lower. Then, once enough people loaded up puts they gap the market higher, making them worthless.
I have said that I hate symmetrical triangles, and here's why; potential, false breakouts. Technically speaking, we are still not out of the woods ...
I have said that I hate symmetrical triangles, and here's why; potential, false breakouts. Technically speaking, we are still not out of the woods ...
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$iShares 20+ Year Treasury Bond ETF (TLares 2 Sharing again for all my bond traders. This is targeting ~97 if it plays out.
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